Unsolicited loan offers sent by SMS, WhatsApp or email may come from an unlicensed lender or from a licensed lender that is breaking Singapore’s advertising rules, so the message alone does not show which. Every money lender license Singapore’s Registry issues appears on a public list, and checking it takes a few minutes. That list stood at 153 businesses as at 1 October 2026. This guide explains how to use it, what a license requires of a lender, and which rules protect you once you sign a loan contract.
Under section 3 of the Moneylenders Act 2008, anyone who lends money in return for a larger sum is presumed to be a moneylender and needs a license from the Registry of Moneylenders. A money lending license is valid for 12 months and must then be renewed. The license fee is S1,500 a year,and renewal requires a banker’s or insurance guarantee of S20,000. The licensee must also have a Test-Qualified Manager, who has passed the Moneylenders’ Test, holds at least four GCE ‘O’ Level passes including English (or equivalent), and is fit and proper and of good character. The Registry has temporarily suspended new licenses, so its published list remains the reference for confirming a lender’s status.
How to check a money lender license in Singapore
Before sharing any documents, confirm the lender on the Registry’s list of licensed moneylenders.
- Open the current list published by the Registry.
- Search for the lender’s exact business name.
- Compare the license number, address and landline with the details the lender gave you.
- Check that the website you are using matches the URL on the list.
- Review the separate list of suspended moneylenders at the bottom, which showed none as at 1 October 2026.
A lender that is not on the list should not be used. Unlicensed moneylending is a criminal offence and is investigated by the Police.
Advertising rules as a screening tool
Licensed moneylenders may advertise only in set places, which gives borrowers a simple filter.
- Directories, the lender’s own website and its own premises are the only permitted channels.
- Social media promotion, SMS, WhatsApp and email messages to the public, and unsolicited sales calls are all prohibited, although existing customers may be contacted about an outstanding loan.
- Offers that arrive by flyer, text or cold call should be ignored and reported to the Registry on 1800-2255-529. Loan-related SMS messages can also be reported to the Police through I-Witness.
Singapore Moneylender Rules Every Borrower Should Know
All licensed lenders work within the same limits on what they may charge.
What you pay | The legal limit |
Interest | Up to 4% a month, secured or unsecured |
Late interest | Up to 4% a month, on the overdue amount only |
Late payment fee | Up to S$60 for each month of late repayment |
Loan approval fee | Up to 10% of the principal, deducted upfront |
All charges combined | Cannot exceed the loan principal |
Interest runs on the principal still outstanding. If S4,000ofaS10,000 loan has been repaid, interest applies to the remaining S6,000,and total charges on that loan can never exceed S10,000.
For unsecured loans that are not business loans and are disbursed on or after 15 September 2026, borrowers have three business days to cancel. They repay the principal received plus a capped part of the approval fee (S50 for loans upto S5,000, or 3.5% of the principal above that), with no interest. On a S10,000 loan with a 10% fee,the most repayable is S9,350.
Secured loans have no amount limit. For unsecured loans, a borrower earning at least S$20,000 a year can borrow up to six times monthly income across all licensed moneylenders combined, with lower limits below that income. Lenders must explain the terms and provide a copy of the contract, and borrowers should receive a receipt for each repayment and a statement of account every January and July.
What defines the best licensed money lender in Singapore
Staying within the legal charge limits is expected of every licensed moneylender, so it should not be the deciding factor. The points below are better indicators of which lender is worth choosing.
- The lender appears on the Registry list under its own name and license number.
- It explains the contract and gives you a copy before you sign.
- It shows the total cost, including the approval fee and any late fees, and not a monthly rate alone.
- You have compared terms across several moneylenders, as the Registry recommends, and considered government financial assistance schemes first.
Licensed lender or red flag: a comparison
The Registry lists behaviours that borrowers should treat with caution. The table sets them against licensed practice.
What to check | Licensed lender | Red flag |
Registry listing | On the list with a license number | Name is not on the list |
How they reached you | Own website, directory or shopfront | SMS, WhatsApp, flyer or cold call |
Your documents | Collects your application and supporting documents before approving | Keeps your NRIC or asks for your Singpass password |
Your contract | Explains the terms and gives you a copy | Blank or incomplete contract, no copy |
Your money | Deducts an approval fee of up to 10% upfront | Withholds any other part of the principal |
If a problem arises
- Complaints can go to the Registry on 1800-2255-529 or through its online form, and it does not share your details with the lender without consent.
- Harassment over repayment should also be reported to the Police.
- Under the Consumer Protection (Fair Trading) Act, courts can set aside loan transactions that are exorbitant or substantially unfair.
- The Registry cannot restructure a loan, but you can negotiate directly or through a lawyer or a social service agency such as Credit Counselling Singapore.
- You can self-exclude through the Moneylenders Credit Bureau for a minimum of one or two years, during which licensed lenders cannot grant unsecured loans other than debt consolidation loans.
Our money lender license on the record
Golden Credit (S) Pte. Ltd. appears on the Registry’s list as at 1 October 2026 with these details.
Detail | Registry entry |
Business name | Golden Credit (S) Pte. Ltd. |
Licence No. | 33/2026 |
Address | 101 Upper Cross Street, #01-05F, People’s Park Centre, Singapore 058357 |
Landline | 6224 1300 |
Website |
We offer personal, short-term, emergency, business, renovation, wedding and debt consolidation loans, all subject to the rules above. Our loan process and eligibility pages explain how to apply, and enquiries can be made on 6224 1300. Borrow only what you can comfortably repay.
Search the lender’s exact name on the Registry’s list and match the license number, address and landline. If it is missing, do not borrow.
It is 4% a month, secured or unsecured. Late interest is also capped at 4% a month on overdue amounts, and total charges cannot exceed the principal.
No. Promotion to the public by SMS, WhatsApp or email is not permitted, though lenders may message existing customers about outstanding loans.
Yes. Unsecured non-business loans disbursed from 15 September 2026 can be cancelled within three business days.
